Isabela Power Corporation (“IPC”) is developing two small run-of-river hydro projects, totaling 33MW, located in the Province of Isabela in Luzon, Philippines. The Projects are located on the same river, with the first project farthest downstream with a capacity of 19 MW (“IPC 1”) and the second project having a capacity of 14 MW (“IPC 2”). IPC 1 is in early construction stage, with initial works such as the access roads already underway.